U.S. Treasury's Wolin says financial system mending

By IBT Staff Reporter On 09/24/09 AT 6:34 PM

The United States has moved away from the financial brink and is heading toward economic recovery, a senior Treasury official said on Thursday.

In prepared remarks to the Financial Services Roundtable, Treasury Deputy Secretary Neal Wolin also reiterated that the Federal Reserve was the agency best equipped for the task of supervising the largest and most complex firms.

There are indications that we have moved back from the financial brink and are headed toward economic recovery. Important parts of the financial system are back to functioning on their own, Wolin said.